It refers to a firm’s engaging in social actions because of its obligation to meet certain economic and legal responsibilities.
From an individual perspective, it is a need that is informal and based on social etiquette.
People establish social obligations over time depending on social norms.
Attending an invitation to lunch in the neighborhood can be a social obligation for an individual when s/he doesn’t like to do so because s/he doesn’t know them well. For a business, meeting social obligations are donating to social charities, being transparent with people, and taking part in community events.
Use of the Term in Sentences:
- Nowadays businesses are becoming more concerned about social obligations.
- Jane is attending the party as a social obligation.
- The bank is donating a large fund for establishing the hospital as a social obligation.
- The TV channel is distributing relief among the flood-affected people as one of its social obligations.
- Harry is always careful about maintaining all social obligations.
- Helping the poor is not only a social obligation but also a moral one.